The Disqualification Files

This section of the website looks in detail at everyone given a Director Ban or a Bankruptcy Restrictions Order for Bounce Back Loan related wrongdoing, along with full details of what each person did, and occasionally other wrongdoing that resulted in a defaulted BBL.

The Insolvency Service recently said: “We expect to see a reduction in Covid Scheme related outcomes during 25/26 as we work through the pool of Bounce Back Loan cases”.

They have also warned that a BBL must be repaid and if the money your company borrowed is not repaid; your company may be investigated by the Insolvency Service, even if it has been dissolved.

If we find there was misconduct in the use of the BBL, action may be taken against you and your company.

Types of misconduct can include, providing false information on loan application, the loan being used for personal benefit and/or dissolving your company to avoid repaying the loan

As a result of the misconduct your company could be wound up by the Court, you could be disqualified as a director, and a Court Order may be made for you to pay compensation.

11 Year Disqualification Given to Fried Chicken Business Owner for the Usual Story of Over-Egging Business Turnover to Secure a £50k HSBC Bounce Back Loan and Leaving it Owing at the Liquidation of His Company

August 26, 2022

The business owner in today’s case was discovered to have over-egged his turnover to secure a much larger valued Bounce Back Loan than eligible for and having taken the Insolvency route leaving that BBL unpaid it was decided that an 11 year disqualification would be a suitable “punishment”. […]

After Getting a £20k Bounce Back Loan for His Company By Claiming Its Turnover was £680k When It Was in Fact Zero and Wasn’t Even Trading, a Company Director is Given a 9 Year Disqualification

August 26, 2022

Another outrageous case today, involving a £20k Bounce Back Loan, that as you will see went to a Company Director whose Company had no turnover and wasn’t even trading, and his punishment was a 9-year disqualification. […]

9 Year Disqualification for Applying for a £35k Lloyds Bank Bounce Back Loan with an Estimated Turnover of £180,000 When Available Records Prove the Actual Turnover was Just £1310

August 25, 2022

Here is another case which has resulted in the Company Director named being given a 9-year disqualification for failing to provide any evidence that the over-estimating of her Company’s estimated turnover was appropriate. […]

By Not Maintaining and/or Preserving Adequate Accounting Records or, Alternatively, Failing to Deliver up to the Liquidator Such Sees Company Director Hit with a 7 Year Disqualification as No One Knows Where a Lloyds Bank £50k Bounce Back Loan Went

August 25, 2022

It was a seven-year disqualification the Company Director named in this case has been given, as no one knows whether their Company was eligible for the Lloyds Bank £50k Bounce Back Loan it got and have not got a clue what it was spent on. […]

12 Year Disqualification for Company Director Who Not Only Blagged a Bounce Back Loan but Also Scammed a Job Retention Support Grant and a Local Council Support Grant Making Off with £117,218.21 in Total

August 24, 2022

Those of you who never received any support for your business during the pandemic, will be furious when you hear how the business owner in today’s case blagged his way to a six-figure sum. He has just been given a 12-year disqualification for his wrongdoing. […]